Bitcoin Spikes 5% Breaking Above 41K And Drags Altcoins Along

Bitcoin experienced a sudden 5% spike which drove its value above $41K and pushed several altcoins such as Ethereum (ETH), Solana (SOL), and Cardano (ADA) sharply higher.

According to data from CoinGecko, Bitcoin moved from $39K to $41K in around 2 hours on Wednesday, 16th March. However, it then dropped back down to $39K before climbing above $40K again.

Bitcoin has a 41% dominance of the cryptocurrency market, and as a result, its price movements almost always influence the broader market.

SOL, ETH, and ADA spiked almost perfectly in line with BTC. All three altcoins saw an increase of around 5% before witnessing a similar decrease to BTC.

BTC and the altcoins gave up some of their gains following the spike. However, they have all held a positive 24 hours trend with SOL moving up 5.2%, ETH 5.9%, and ADA is up 2.9%. Sou
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